Marquee Developments has officially launched its first project in the Egyptian market, Shababeek, a residential development located in New Cairo’s Fifth Settlement. The project, covering an area of 15 feddans, boasts an investment of over EGP 6bn.
Hazem Salama, Chairperson of Marquee Developments, emphasized that while the company is new to the Egyptian market, it is backed by the extensive expertise of its founders, who have an impressive track record in real estate development. Their past achievements include executing several urban projects in key Egyptian cities such as Nasr City, Heliopolis, and Hurghada, as well as ventures across the Arab world and Europe.
Salama also noted that Marquee was founded through Egyptian-European investments with the vision of creating a new generation of urban communities. The company aims to identify investment opportunities in high-potential areas, advance the concept of urbanization, and deliver sustainable developments that set new benchmarks in Egypt’s real estate market.
Mohamed Amer, CEO of Marquee Developments, shared that Shababeek is the first of a series of projects the company plans to announce soon. The development will feature 82% of its space dedicated to green areas, landscapes, and water features, with just 18% allocated for built-up areas. Planned amenities include diverse residential spaces, children’s play areas, a nursery, yoga spaces, cycling tracks, walking trails, and swimming pools. The design and execution are being carried out by renowned firms including MTA, ACE Moharram Bakhoum, and Okoplan.
